New Issue: BMO sells $3.89 million autocallable cash-settled notes on Stoxx, Russell

By Wendy Van Sickle

Columbus, Ohio, March 6 – Bank of Montreal priced $3.89 million of autocallable cash-settled notes with fixed interest payments due June 4, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 7.4%.

The notes will be called at par plus the coupon if each index closes above its initial level on any monthly call date beginning on April 6.

The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 72.5% trigger level, in which case investors will be fully exposed to any losses of the lesser-performing index.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable cash-settled notes with fixed interest payments
Underlying indexes:	Russell 2000, Euro Stoxx 50
Amount:	$3,891,000
Maturity:	June 4, 2021
Coupon:	7.4% payable monthly
Price:	Par
Payout at maturity:	Par unless either index finishes below its initial level and either index ever closes below its 72.5% trigger level, in which case full exposure to any losses of lesser-performing index
Call:	At par if each index closes above its initial level on any call date beginning on April 6
Initial levels:	1,476.431 for Russell, 3,329.49 for Stoxx
Trigger levels:	1,070.412 for Russell, 2,413.88 for Stoxx; 72.5% of initial levels
Pricing date:	Feb. 28
Settlement date:	March 4
Agent:	BMO Capital Markets Corp.
Fees:	0.75%
Cusip:	06367WWU3

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